posted
I'm new to the pink sheets, is there any way investors still holding would be able to get back some money should the courts rule against Sulja? Is there any reason to hold this?
Posts: 10 | Registered: Nov 2006
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quote:Originally posted by Brianehu: I'm new to the pink sheets, is there any way investors still holding would be able to get back some money should the courts rule against Sulja? Is there any reason to hold this?
You've got your homework cut out for you that's for sure. This is a pink as pink as it can get IMO.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by Brianehu: I'm new to the pink sheets, is there any way investors still holding would be able to get back some money should the courts rule against Sulja? Is there any reason to hold this?
Share holders are screweD..aint getting anything back. Now about holding it, It depends on the individual situation...Like how high you bought, how much money you invested, and what percent of you penny trading money you have in SLJB.
Posts: 2321 | Registered: Aug 2006
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quote:Originally posted by Brianehu: I'm new to the pink sheets, is there any way investors still holding would be able to get back some money should the courts rule against Sulja? Is there any reason to hold this?
Go and see the poster: JannieBgood, over on Ihub for your question .
Here is what she has said :
I and another shareholder here have already consulted a securities attorney about bringing a lawsuit against PV and the gang. If you are an aggrieved shareholder here and interested in pursuing legal action against any persons who may have committed fraud, stock manipulation, etc., please send me your name, location and contact information, plus the amount of your loss. I am accumulating a list of shareholders in the event the attorneys we consulted decide to move forward with legal recourse. They are a very reputable firm here in Tampa, Florida and are very interested in this matter, dependent upon the ability to find and recover any assets which may be disgorged from the parties who stole our money.
If you are still holding some,...you may get stuck if/when there is a halt, which is likely .
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
I don't own any of this POS, but thought I would share this for those who still may .
If you haven't run for the hills yet, maybe this will help you along :
Posted by: benzdealeror2 In reply to: None Date:1/9/2007 1:23:40 PM Post #of 239412
From someone in the know.
I, TOM ANDERSON, an Investigator with Staff of the Ontario Securities Commission, in the City of Toronto, in the Province of Ontario, MAKE OATH AND SAY:
Overview
1. This matter involves what appears to be an illegal distribution of securities in Ontario of an issuer in the United States, Sulja Bros. Building Supplies, Ltd. (Nevada) ("Sulja Nevada"), the price of which appears to have been artificially inflated through trading in nominee accounts in Ontario on the instruction of Petar Vucicevich ("Vucicevich") and facilitated by Andrew DeVries ("DeVries").
11. By letters dated September 29, 2006, each of PricewaterhouseCoope("PWC") and KPMG LLP ("KPMG") advised Staff of the Commission that Sulja Bros. had made misrepresentationisn in recent press releases with respect to its relationship with PWC and KPMG. Also enclosed with their correspondence to Staff was documentation in support of their objection to the representations made by Sulja Bros. Attached respectively hereto as Exhibits "8" and "9" are copies of the correspondence package received from PWC and KPMG dated September 29, 2006.
12. In their letters to Staff, PWC and KPMG advised that, in a press release dated August 11, 2006, Sulja Bros. had made untrue statements that it was negotiating with both KPMG and PWC to handle all future Securities and Exchange filings and reportings. Attached hereto as Exhibit "10" is a copy of the press release from Sulja Bros. dated August 11, 2006.
13. In a further press release dated August 23, 2006, Sulja Bros. made statements that PWC and KPMG were performing an audit for Sulja Bros. which would be completed in the near future. In their letters to Staff, PWC and KPMG advised that Sulja Bros. was not, nor had it ever been, an audit client of either firm. Attached hereto as Exhibit "11" is a copy of the press release from Sulja Bros. dated August 23, 2006.
14. In their letters to Staff, PWC and KPMG enclosed copies of correspondence to Vucicevich as the CEO of Sulja Bros. and to Marquee Asset Management LLC("Marquee"), the investor relations firm for Sulja Bros., demanding that Sulja Bros. cease and desist from making any further reference to PWC and KPMG and that Sulja Bros. correct the misrepresentation made in respect of its relationship with them.
15. I have reviewed subsequent press releases issued by Sulja Bros. and have not found any statements by Sulja Bros. retracting the representations concerning PWC and KPMG.
21. Vucicevich went on to explain that Su1ja Bros. entered into share selling arrangements, which he described as "trust" arrangements, with employees of Kore, Pranab Shah and Tracey Banumas, and members of the Sulja family, Samuel Sulja and John Sulja (collectively referred to as the "Nominees"), whereby they were paid to trade newly issued shares of Sulja Nevada on behalf of the company (pp. 26-31 of Exhibit 12).
22. From the interview, it appears that the Nominees opened brokerage accounts at TD Waterhouse and RBC Action Direct (the "Nominee Accounts") for the purpose of trading the securities of Sulja Nevada and that shares of Sulja Nevada were received by journal entry into the Nominee Accounts through the company's transfer agent (pp. 26-31 and 34 of Exhibit 12).
23. Based on Vucicevich's statements to JSIU, it appears that the shares were subsequently sold out of the Nominee Accounts at his directIon. It further appears that the proceeds of the trading went back to Sulja Bros., either directly and/or through Kore, to pay debts owed by Sulja Bros., including to the Sulja famIly for theIr interest in the company, and to expand and operate the business (pp. 6, 19-22 and 27 of Exhibit 12). VucIcevich explaIned that the Nominees had entered into trust agreements which set out the terms of this share selling arrangemenpt p. 26 - 31 of Exhibit 12).
24. Based on further statements made by Vucicevich during the interview, it appears that Vucicevich directed the trading by telling the Nominees when to trade and how many shares to trade at a given price (pp. 27-30 of Exhibit 12). Vucicevich stated in the interview that he directs the trading to keep the price at $.012 (pp. 20, 40 and 67 of Exhibit 12). He also advised that they have raised $7.8 million by trading approximately 150 million shares in this manner (pp. 20-21 and 61 of Exhibit 12).
25. Vucicevich further explained that the Canadian and U.S. operations of Kore are involved with Sulja Bros. to oversee the expansion of Sulja Bros. and that Kore U.S. "[... ] at this point, they're controlling 280 million shares" (pp. 13 and 27 of Exhibit 12).
26. Vucicevich advised that he is the directing mind of Kore's operations in Canada and that DeVries is the operating mind of Kore in the U.S. (p. 28 of Exhibit 12). Vucicevich advised that DeVries is responsible for the share structure of Sulja Bros. and "is the one that is authorized to distribute the shares" (p. 41 of Exhibit 12).
27. Vucicevich indicated in the interview that he had provided funding to Sulja Bros. "long before Sulja went public" (p. 12 of Exhibit 12) and that in accordance with the "agreement" that he signed with the Sulja family "in the beginning", Kore will be remunerated for its involvement in expanding Sulja Bros. (p. 72 of Exhibit 12).
30. I require more time to interview others involved with Sulja Bros., Kore, and possibly other entities in order to understand to understand [sic] the nature of the relationships between the Respondents and the nature and scope of the trading in Sulja Bros. securities. I estimate I will need at least six months to do that.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
14. "In their letters to Staff, PWC and KPMG enclosed copies of correspondence to Vucicevich as the CEO of Sulja Bros. and to Marquee Asset Management LLC("Marquee"),the investor relations firm for Sulja Bros., DEMANDING that Sulja Bros. cease and desist from making any further reference to PWC and KPMG and that Sulja Bros. correct the misrepresentation made in respect of its relationship with them."
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
Wondering when a real Class Action Lwsuit will materialize? I'm in, anyone else? Posts: 616 | From: Mid West | Registered: Mar 2006
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posted
Do you have to have a loss? I could have had a loss but only had gains from this one. i know if you hit and kill a sheep in Scotland you have to pay for the sheep and all its lost potential. I suffered the loss of thousands of potential gains here. If not then i'll offer whatever help on the research side i can offer then.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by Time2drum: Wondering when a real Class Action Lwsuit will materialize? I'm in, anyone else?
I'm definately in. I'd loved to get even half of my college money back! PM me for my email/contact info.
Posts: 62 | Registered: Oct 2006
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Posted by: Airys418 In reply to: None Date:1/9/2007 3:20:33 PM Post #of 239641
Just got off the phone with the company. The PR will be out first thing in the morning. They made some changes to it today and it was delayed one day because the changes had to get cleared by the lawyers first. I was assured that it would come out first thing tomorrow. Take it for what it's worth.
Posts: 62 | Registered: Oct 2006
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posted
THANKS WIT GOOD INFO! gotta learn to scroll up more often. LOL
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
i don't need to look up, i just gave up navigating the hub. also, i was hoping someone here would organize one, hard to trust a HUBBER
Posts: 62 | Registered: Oct 2006
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posted
I can't stand that site either. But she seems decent. Jannie was burned pretty badly, she's organizing a suit already in progress. You don't need to bother with the hub, just contact her if you are interested.
What I meant by look up was that the info. is a few posts up.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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quote:Originally posted by d0lph1nK1ng: hard to trust a HUBBER
LMAO
KIS = Keep It Simple TNO = Trust No One
so KISTNO
But you can IMO evaluate and see over time who you can reasonably consider accountable for what they post. And who is at least on the level. I can count on one hand who I can "trust" on any forum.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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20 Queen St. W. Box 55, Suite 1900 Toronto, ON M5H 3S8 Commission des valeurs mobilières de l'Ontario FOR IMMEDIATE RELEASE
January 8, 2007
IN THE MATTER OF THE SECURITIES ACT R.S.O. 1990, C. S.5, AS AMENDED
- AND -
IN THE MATTER OF
SULJA BROS. BUILDING SUPPLIES, LTD. (NEVADA), SULJA BROS. BUILDING SUPPLIES LTD., KORE INTERNATIONAL MANAGEMENT INC., PETER VUCICEVICH AND ANDREW DeVRIES
TORONTO – The Commission issued a Temporary Order today extending the temporary order of December 22, 2006 and adjourning the hearing to Friday, March 23, 2007 at 10:00 a.m.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
SLJB Announces Internal Review of Prior Public Disclosure and OtherMatters; Also Discusses Actions by Ontario Securities Commission andInquiry by U.S. Securities and Exchange Commission
Jan 10, 2007 09:46:35 (ET)
WINDSOR, ON, Jan 10, 2007 (MARKET WIRE via COMTEX) -- Sulja Bros. Building Supplies, Ltd. (Nevada) (PINKSHEETS: SLJB), today announced that, in consultation with outside counsel, it is undertaking a review of various issues relating to the issuance and trading of its common stock, as well as the accuracy of its prior public disclosures. Given the early stage of this review, the Company is unable to provide any further information regarding these matters, but cautions investors not to rely upon the press releases and other public statements previously issued by or on behalf of the Company.
The Ontario Securities Commission (OSC) has commenced an enforcement proceed against the Company, the Company's affiliate Sulja Bros. Building Supplies Ltd. (Ontario), the Company's former Chief Executive Officer Peter Vucicevich, Kore International Management Inc. (a company affiliated with Mr. Vucicevich) and Andrew DeVries (who was formerly associated with the Company). The OSC alleges, among other things, that Messrs. Vucicevich and DeVries engaged in manipulative trading in the Company's stock and that the Company made representations in certain press releases that were not true. A copy of the Statement of Allegations issued by the OSC can be found at /SOA/soa_20061227_suljabros.pdf . On December 22, 2006, the OSC ordered the cessation of trading in the Company's securities for 15 days and, on January 8, 2007, that order was extended until March 23, 2007 The Company did not oppose the continuation of this order and is cooperating with the OSC, but cannot at this time comment on the substance of the OSC's allegations or on the impact of the OSC's order on the trading of the Company's common stock in the United States.
The U.S. Securities and Exchange Commission (SEC) has also informed the Company that the SEC is conducting an inquiry into the matters that are the subject of the OSC proceeding. The Company is cooperating with the SEC.
For the foreseeable future, the Company does not intend to respond to requests for information from shareholders or other interested parties except to refer them to this press release and any subsequent releases issued by the Company. The Company will provide any updates as to the matters referred to herein through broadly disseminated press releases, but cannot predict when it will make any such updates. Investors should not rely on any statements purporting to be by or on behalf of the Company other than those contained in this release or any future press releases issued by the Company.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words: believes, intends, anticipates, expects, predicts and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, costs, risks and effects of the on-going review by the Company, including the impact on the Company's ability to provide timely information as to the Company's business, operating results and financial condition; costs, risks and effects on the Company's business and the trading of its stock of legal proceedings and investigations, including the enforcement proceeding commenced by the OSC and the inquiry being conducted by the SEC; and the impact of the OSC order that trading in the Company's securities cease. Except as expressly required by the securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.
SOURCE: Sulja Bros. Building Supplies Ltd.
-------------------- LIFE IS 10% HOW YOU MAKE IT AND 90% HOW YOU TAKE IT! Posts: 9276 | From: San Diego CA | Registered: Jul 2006
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"the Company is unable to provide any further information regarding these matters, but cautions investors not to rely upon the press releases and other public statements previously issued by or on behalf of the Company"
yeah don't listen to us, we're just talking out of our asses!
amazing
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006
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posted
This is the kind of stock drama worth sitting back with a big fat stogie and a tall glass of scotch and watching the legal widgets run around like crazy.
it's 5'oclock somewhere
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
i only made a couple comments on the ihub thread. I like chaos but that's just too freekin crazy there for me.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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